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PatientIQ Raises $20 Million to Transform Patient Outcomes Data into Actionable Intelligence that Advances Clinical Care

PatientIQ, a leading healthcare technology company deriving actionable insights from patient outcomes data at scale, announced it has secured $20 million in Series B funding. The funding round was led by Health Enterprise Partners (HEP), a growth equity firm whose investors include some of the largest health systems and health plans in the United States. August Capital, an early financier of PatientIQ, also participated in this funding round.

PatientIQ partnered with HEP because of its deep industry expertise and long-standing record of scaling healthcare technology businesses. HEP’s investment will help advance PatientIQ’s mission of driving medicine forward through the systemic collection and analysis of patient outcomes data. Specifically, the company will leverage the investment to further enhance its industry-leading patient outcomes platform and accelerate its expansion in the provider and real-world evidence markets. Following the recent hiring of John Gerhardt as Chief Technology Officer, the company also plans to double in size by the end of 2022 to meet increasing demand for patient outcomes collection and analysis.

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“As healthcare continues down the path toward value-based care delivery, the ability to measure and quantitatively define ‘quality’ is imperative,” said Matthew Gitelis, CEO, PatientIQ. “Other industries with far less at stake leverage big data to measure value and improve performance, and HEP’s investment will help ensure that healthcare organizations across the country are expertly equipped to optimize clinical outcomes.”

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“HEP invests in companies that demonstrate an unmatched commitment to achieving clinical and operational excellence,” said Dave Tamburri, Managing Partner, HEP. “The PatientIQ platform is a best-in-class product that will inspire the collaboration and innovation needed to advance clinical practice. We are thrilled to partner with Matthew Gitelis, Michael Casey, and the entire PatientIQ team to accelerate the company’s growth.” Tamburri will serve on the PatientIQ Board of Directors.

The $20 million Series B raise follows a tremendous period of growth for PatientIQ. In just two years, the company has matured its customer base from 29 healthcare organizations to more than 200, collecting outcomes data from more than 1.4 million patients. The volume of outcomes collected has also grown substantially to almost 6 million, which provides clinicians and researchers with a robust database they can leverage to benchmark performance, predict patient outcomes, and collaborate to enable better care.

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[To share your insights with us, please write to sghosh@martechseries.com]

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